Wessington Springs herald. (Wessington Springs, Aurora County, Dakota [S.D.]) 1883-1891, 1887-06-10
GOLD AND SILVER,
Report of the Director Of the Min.
the Production of the Prac;or,
Metals.
Washington special. !

The report of the Director Of Tho ".
the production of the precious ma.a I' o
the United States for the calcnd,r
1856 is in press, and will soon be ,oaa sss
distribution. The Director estim,.s 10
production of the United States tot ~
been in 1886: Gold, $50, COO, 900. & s, ls's
S51, 100000. The value of the s;,r.
the above estimate is calculated
the coinage rate of silver in Tn,'s,
States silver doilars-namely, 81 5s
per ounce tine. The production Of ~ ~
yer wasl 39,445,312 fine ounces y! ST.
commercial value, at the average prjcs =.
silver during the year namely, abo ,vs :;
per fine ounce), OF S39,445,3l2. Thu nv
daction of gold shows an increase ovol pro-
of silver is slightly less than in i'm. :la's
tabular statement shows that the prodr:
ton of silver i'll the United States as" Se
largely increased Incl from 1850, when it WY r.s
$39, 100000, to SOL, oOo,O CO in lSSe T Ts
the maximum of tie last seven years i' ~
product of 1880, which reached sac ioa we
600, against $35, 100000 in 1886. '''VV''
Colorado maintains first rank oe 4
largest producer of the precious metal ~ ~
the United States, the value of its nroI,a ~
ton of gold and silver having been ,'o o...
$2O,000,u00 during the last wear c yss
fornia yields second place to Montana e ni.
a production of nearly 1900. 900. AGONY; HMa
Sl6,O0O,000 by the former. The nr 1"1+,s'
ton of Nevada and New Mexico has y.
creased, while that of the other States It, H..
remained almost constant. Texas. for ia, .bs
first time, is added to the list of prodnc;ns
States, with production of S2OO.0OG (
silver. The annual supply of silver for
the mines of the world has largely IN
creased in the last fourteen years ~,
period covered by the marked decline "
the market price of silver, and has doubaa
since 1872; that is, from S62 ,OOo. 000 "
that year to 1921, 100000 in 1856.
During the calendar year 1856 hs
changes in the price of silver were vsrv
marked. Opening Jan. 2, 1856, at 46 l5.lSS
pence per ounce, British standard tts
fluctuations were slight until April, when
commenced a rapid decline, which coptins
ued until July 81, when the price of silver
reached AZ pence, remaining at that prjes
until Aug. 10, when an advance took nlocs
which continued until Nov. 90, when III.
price reached AZ pence, but remained NJ
that point only short time. The closing
quotation Dec. 81 was lG! pence. The az.
erage price for the year was 1914 pepe
equivalent to 99.465 cents per ounce fine
The price of silver at the present time !,
43s pence per ounce, British STANDARD
equivalent to 95.6 cents per ounce fine.
The value of the gold deposited at the
mints of the United States during the cal.
endar year 1886 was S79,057 sis, of which
over S2l, 100000 consisted of foreign
bullion and over S9,00o,000 foreign coin
The deposits and purchases Of silver
amounted to S;39, 0S6,07O. The coinage
executed at the minis during the calenda,
year consisted of GO, $3.50 pieces, Of
the face value of SCI, 375,43S. The nun.
Der OF silver dollars coined was 81, 423, $50
on which the seigniorage was 1895, 1861 g.
lhe Director estimates the stock of coin
IN the United States Jan. ., 1887, to have
been, in round tiguras, gold, $3.50, 1000 900;
silver, 1924 ,00r,GG0; total, 1854, O0O,lM
In addition to the stock of coin, the Gov-
eminent owned gold and silver bullion in
the mint awaiting coinage of the value Of
gold, SS1 100000; silver. 81 ,0Oa, 900; total,
SsS,4o0,0O0; total of metallic stock on
Jan. l, 1887, Of gold. S64l 400, GOO; silver,
S33l 500, 900; total, 1913, 2CG, 700.
The Director presents official figures TO
show that of the stock of gold coin est.
mated to have been in the United States
the first of the present year, there was in
the Treasury CT the United States and in
the national and State banks and in circu.
lation on the Pacific slope $500, OOOeOo,
leaving S2'0,0oo,000 in the hands of the
people and in the banks and savings inst.
tutlons OF the United States east of the
Sierra Nevadas (otler than national banks
and the 81" State banks which reported to
the Controller of the Currency.
The stock and ownership of gold and
1887, are given as follows: United States
Treasury, S1SG,9o1. l94; national banks,
SlGG.o93,55;i; State and other banks and
private individuals, 1851, 156,S04; total,
ssS3,o3l ,s54. The total stock of paper
and metallic money in the United States
the paper all either redeemable in coin OF
secured by bonds redeemable in coin
amounted, Jan. l, 1887, to 81, S79, 1885.